Conavi Medical Corp. Announces Pricing of Public Offering of Common Shares and/or Pre-Funded Warrants

Executive Summary

• Conavi Medical Corp. announced the pricing and terms of its public offering of common shares and pre‑funded warrants, targeting gross proceeds of $15 M–$20 M at $0.45 per share (or $0.44999 per warrant).
• Net proceeds are earmarked for obtaining FDA 510(k) clearance for the next‑generation Novasight Hybrid system, a limited market release, and broader U.S. commercial launch, plus working capital.
• The offering will be conducted on an agency basis with Bloom Burton Securities Inc., includes a cash fee of 6.5% (reduced to 3.25% for certain purchasers) and compensation options equal to 6.5% of securities issued.

Key Details

• Securities Offered: Minimum 33,333,333 and maximum 44,444,444 common shares and/or pre‑funded warrants.
• Pricing: $0.45 per Common Share; $0.44999 per Pre‑Funded Warrant.
• Gross Proceeds Target: $15 M to $20 M.
• Pre‑Funded Warrant Terms: Exercise price $0.00001 per share; warrants do not expire and may be exercised on a net/cashless basis.
• Use of Proceeds:
• Obtain U.S. FDA 510(k) clearance for next‑gen Novasight Hybrid system.
• Complete limited market release and initiate broader commercial launch in the United States.
• Working capital and general corporate purposes.
• Agency Agreement: Bloom Burton Securities Inc. acting as agent; offering may be completed in one or more tranches, initial closing expected on or about 2025‑12‑23.
• Agent Compensation:
• Cash fee equal to 6.5% of gross proceeds (reduced to 3.25% for certain “president’s list” purchasers).
• Compensation options equal to 6.5% of total securities issued, exercisable up to 24 months after closing.
• Regulatory Filings: Final short‑form prospectus to be filed on the same day (2025‑12‑18) with Alberta, BC, and Ontario securities regulators; no sales until receipt of final prospectus.
• Private Placement Component: Securities may also be offered via private placement in jurisdictions outside Canada, complying with local securities laws.

Notable Quotes

(No direct quotes were provided in the release.)